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Do Hedge Funds Love Cellcom Israel Ltd. (CEL)?

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At Insider Monkey, we pore over the filings of more than 700 top investment firms every quarter, a process we have now completed for the latest reporting period. The data we’ve gathered as a result gives us access to a wealth of collective knowledge based on these firms’ portfolio holdings as of September 30. In this article, we will use that wealth of knowledge to determine whether or not Cellcom Israel Ltd. (NYSE:CEL) makes for a good investment right now.

Is Cellcom Israel Ltd. (NYSE:CEL) worth your attention right now? The best stock pickers are in a bearish mood. The number of long hedge fund positions retreated by 2 recently. CEL was in 5 hedge funds’ portfolios at the end of the third quarter of 2015. There were 7 hedge funds in our database with CEL positions at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as AtriCure Inc. (NASDAQ:ATRC), Universal Health Realty Income Trust (NYSE:UHT), and Fox Factory Holding Corp (NASDAQ:FOXF) to gather more data points.

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To most market participants, hedge funds are seen as slow, outdated investment tools of years past. While there are greater than an 8000 funds trading at the moment, Our researchers hone in on the top tier of this group, around 700 funds. It is estimated that this group of investors control the lion’s share of the smart money’s total asset base, and by keeping track of their top investments, Insider Monkey has discovered many investment strategies that have historically beaten the market. Insider Monkey’s small-cap hedge fund strategy outrun the S&P 500 index by 12 percentage points annually for a decade in their back tests.

Now, we’re going to check out the recent action encompassing Cellcom Israel Ltd. (NYSE:CEL).

Hedge fund activity in Cellcom Israel Ltd. (NYSE:CEL)

At the Q3’s end, a total of 5 of the hedge funds tracked by Insider Monkey were long this stock, a change of -29% from one quarter earlier. With the smart money’s capital changing hands, there exists an “upper tier” of key hedge fund managers who were upping their holdings considerably (or already accumulated large positions).

According to Insider Monkey’s hedge fund database, Jim Simons’ Renaissance Technologies has the number one position in Cellcom Israel Ltd. (NYSE:CEL), worth close to $22.2 million, amounting to 0.1% of its total 13F portfolio. Coming in second is Richard Mashaal’s Rima Senvest Management, with a $2.3 million position; 0.2% of its 13F portfolio is allocated to the company. Other peers that are bullish comprise Matthew Hulsizer’s PEAK6 Capital Management, John Overdeck and David Siegel’s Two Sigma Advisors and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

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